A display panel including a pixel circuit substrate, a planarization layer, a plurality of bonding pads, a plurality of light-emitting devices, a plurality of auxiliary electrodes, and a reflective structure layer is provided. The pixel circuit substrate has a plurality of signal lines. The planarization layer covers the signal lines. The bonding pads are disposed on the planarization layer and are electrically connected to the signal lines. The light-emitting devices are electrically bonded to the bonding pads. The auxiliary electrodes are disposed between the bonding pads. The reflective structure layer is disposed between the light-emitting devices and overlaps at least part of the auxiliary electrodes and the bonding pads. A method of fabricating the display panel is also provided.